공정한 기업지배구조를 위한 기관투자자의 역할과 한계

To ensure fair corporate governance that enables transparent and sustainable growth where everyone is happy and well-off, an entity must invest considerable resources in the company, such as internal controls to check management activities and external controls to ensure financial statements are accurate. But in order to create a fair governance structure without investing significant additional resources, the role of the institutional investor who is a long-term shareholder and can make the best management judgment when exercising voting rights is important. However, institutional investors are also passive due to conflicts of interest between the trustee and the consignee, or between institutional investors and the companies subject to investment. Therefore, as an improvement measure, the entity first proposes to present best practices for the performance of trustee responsibilities as a way to promote voting rights of institutional investors and to establish policies for preventing conflicts. Second, to help the public offering fund provide the optimal role of corporate management supervision, the public offering fund's fee regulation will be lifted, and proper incentives will be compensated to the fund manager through deregulation. If the legal system is reorganized to allow mutual funds and public pension operators to receive incentive-based compensation similar to that currently paid by private equity fund operators, active management supervision will be attempted to create direct incentives. Lastly, I propose to reorganize the statutes. First of all, the market for fair corporate governance is revitalized by deregulation of public fund monitoring, and the legal basis for exercise of voting rights is established so that the role of monitoring, checking and control of conflicts of interest with management can be intact. It is also helpful to consider imposing an obligation to initiate and impose socially responsible activities on institutional investors.